How do realized returns compare to initial projections for these deals?

In fact Hospitable is more geared towards self managers than professional management companies.Unfortunately I bet a whole bunch of hosts aren't going to notice until they have a double booking and a very expensive fine from VRBO.

I’ve been working on a ground-up townhome development in Sevierville, TN and thought I’d share a few observations for anyone looking at STR-focused projects in high-tourism markets.One thing that’s become very clear is that designing specifically for long-term operational durability matters just as much as initial projections.

@Vitaliy Zima the step you are missing is your initial loan.  

From what I’m seeing, a lot of California multifamily seems to rely more on appreciation + tax benefits rather than strong day-one yield.What I've found focusing on out-of-state multifamily:Cap rates are higherCash flow is strongerTargeting 10%+ cash-on-cash is more realisticIf you’re investing here in California, are you mainly betting on appreciation vs cash flow, or what's your strategy?

I bet the Facebook groups might have more people in this situation.

You bet, Jason.

One of the reasons I initially got into real estate was because in my corporate work I had back to back jobs where I lost my job at no fault of my own.

I do understand that it would vary significantly from person to person, so I am mainly looking at the reasoning behind dropping or not dropping a deal altogether after looking at initial numbers. 

I purchased only 2-3 years ago @140k and appraised last week at $275kI was initially interested in doing a redo but even dropping two full points, I was saving maybe $100/month.